delivered 86,533 vehicles in the second quarter, exceeding the upper end of its guidance range of 76,000 to 81,000 vehicles.

Li Auto (NASDAQ: LI) will report unaudited financial results for the second quarter on Tuesday, August 8, before the US markets open, the company announced today.

Previously released figures from the company showed that it delivered 86,533 vehicles in the second quarter, exceeding the upper end of its guidance range of 76,000 to 81,000 units. That's a 201.65 percent increase year-on-year and a 64.56 percent increase from the first quarter.

Li Auto's previous revenue guidance for the second quarter was between RMB 24.22 billion and RMB 25.86 billion, implying year-on-year growth of 177.4 percent to 196.1 percent.

The company has seen strong delivery growth this year, delivering a record 32,575 vehicles in June, surpassing the 30,000 mark for the first time.

In the first half of the year, Li Auto delivered 139,117 vehicles, up 130.31 percent year-on-year, surpassing last year's full-year deliveries of 133,246.

In the fourth quarter, Li Auto will challenge itself to achieve the 40,000-unit monthly delivery mark, Li Xiang, founder, chairman and CEO of Li Auto, said on July 1 when the company announced its June deliveries.

Li Auto's current models on sale are all extended-range electric vehicles (EREVs), essentially plug-in hybrids, including the five-seat Li L7 and the six-seat Li L8 and Li L9.

Li Auto is expected to launch its first BEV model, the Li Mega, in the fourth quarter and believes it will become a new blockbuster seller in the RMB 500,000 and above price segment.

As of July 23, Li Auto has sold a cumulative 24,600 vehicles so far this month, figures it released on Tuesday showed.

Li Auto's sales target for next year is tentatively set at 800,000 units, local media outlet LatePost reported yesterday.

The company's directly operated offline stores will increase to more than 800 next year, more than double the current number, according to the report.

Li Auto management will hold an earnings call on August 8 at 8 pm Beijing time (8 am US eastern time).

For participants who wish to join the call, the online registration link is here:

https://s1.c-conf.com/diamondpass/10032372-jb217p.html

A replay of the conference call will be available until August 15, 2023 by dialing the following number:

United States: +1-855-883-1031

Chinese mainland: +86-400-1209-216

Hong Kong, China: +852-800-930-639

International: +61-7-3107-6325

Replay Password: 10032372

Li Auto aims to sell 800,000 cars next year, report says

Become A CnEVPost Member

Become a member of CnEVPost for an ad-free reading experience and support us in producing more quality content.

Become A Member